Woodside Acquires Tellurian Inc. for Approximately $900 Million

Aethon Energy Management Acquires Tellurian's Upstream and Midstream Assets

July 1, 2024

Energy

Aethon Energy Management LLC has completed the acquisition of Tellurian Inc.'s integrated upstream and midstream assets, expanding Aethon's Haynesville Shale position to ~375,000 net acres with over 3 Bcf/d of gathering and treating capacity. Concurrently, Aethon signed a heads-of-agreement for 2 mtpa of LNG from Tellurian's Driftwood project; financial and legal advisors included Citi, Truist Securities, Gibson Dunn, Lazard and Akin Gump.

Woodside Energy Acquires OCI's 1.1 Mtpa Clean Ammonia Project in Beaumont, Texas

August 5, 2024

Energy

Woodside Energy Group Ltd completed the acquisition of 100% of OCI Clean Ammonia Holding B.V., taking ownership of the 1.1 million tonne-per-annum Clean Ammonia project in Beaumont, Texas, for approximately USD 2.35 billion (cash-free, debt-free). OCI will continue to manage construction and commissioning through provisional acceptance; first ammonia is targeted in 2025 and lower‑carbon ammonia in 2026, with USD 1.88 billion paid at closing and the remaining USD 470 million payable at project completion.

Targa Resources Acquires Lucid Energy for $3.55B

July 29, 2022

Energy

Targa Resources Corp. completed the $3.55 billion acquisition of Lucid Energy Delaware, LLC, adding approximately 1,050 miles of gas gathering pipelines and ~1.4 Bcf/d of cryogenic gas processing capacity concentrated in the Delaware Basin. The deal, purchased from a group of private-equity and infrastructure investors led by Riverstone and Goldman Sachs Asset Management (and related funds), expands Targa's Permian Basin footprint and anchored volumes under long-term contracts.

Vital Energy Acquires Assets of Driftwood Energy Operating, LLC

February 14, 2023

Energy

Vital Energy, Inc. (NYSE: VTLE) signed a definitive agreement to acquire the assets of Driftwood Energy Operating, LLC, comprising leasehold interests, production and hedges, in exchange for 1,578,948 shares of Vital common stock and $127.6 million in cash. The asset package (effective Jan. 1, 2023) includes ~16,500 gross acres (11,200 net) in Upton and Reagan counties of the Midland Basin, ~5,400 BOE/day production, and an estimated 30 gross operated horizontal locations.

Energy Transfer Acquires WTG Midstream for $3.25 Billion

May 28, 2024

Oil & Gas

Energy Transfer LP agreed to acquire WTG Midstream Holdings LLC in a transaction valued at approximately $3.25 billion, comprising $2.45 billion in cash and ~50.8 million newly issued Energy Transfer common units. The deal, from affiliates of Stonepeak, the Davis Estate and Diamondback Energy, adds WTG's Permian-focused midstream assets — including a 6,000-mile pipeline network, eight processing plants (≈1.3 Bcf/d) and a 20% interest in the BANGL NGL pipeline — to Energy Transfer's footprint to enhance its gas/NGL supply, processing and downstream capabilities.

Southwestern Energy Acquires Indigo Natural Resources for ~$2.7B

September 1, 2021

Energy

Southwestern Energy Company agreed to acquire Haynesville-focused Indigo Natural Resources, LLC for approximately $2.7 billion in a transaction comprised of cash, stock and assumed debt. The acquisition adds high-margin dry gas assets and inventory in the Haynesville play, expands Southwestern's access to Gulf Coast LNG markets and accelerates free cash flow and deleveraging targets.